Court hears Elevation Chandler case

Lawyers feuding over who owns Elevation Chandler argued their cases Wednesday before the Arizona Supreme Court. The five justices puzzled over the three trustee sales that were held for the 10.5-acre property, which contains an abandoned hotel-construction site near the intersection of Loops 101 and 202. Lawyers say the case has a bearing on all commercial real-estate deals in Arizona. Tom Peltier, a Phoenix foreclosure speculator doing business as BT Capital, contends he bought the property for $1,000,001 on June 15, 2009, at the second of the three sales. The sale was rife with errors made by T.D. Service, which conducted the auctions. On Wednesday, the justices peppered the attorneys with questions. First up was attorney Roger Cohen, representing T.D. Service, and he told the justices that B.T. Capital "is seeking to obtain a windfall at someone's expense.

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